Under the terms of the Higher Education Act and other Federal legislation providing funding assistance to postsecondary education, an institution or program is eligible to apply for participation in certain Federal programs if, in addition to meeting other statutory requirements, it is accredited by a nationally recognized accrediting agency or if it is an institution or program with respect to which the U.S. Secretary
of Education has determined that there is satisfactory assurance the institution or program will meet the accreditation standards of such an agency or association within a reasonable time. An institution of program may establish satisfactory assurance of accreditation by acquiring preaccreditation status with a nationally recognized agency that has been recognized by the U.S. Secretary of Education for the award of such status. According to the Criteria for Nationally Recognized Accrediting Agencies, if an accrediting agency has developed a preaccreditation status, it must demonstrate that it applies criteria and follows procedures that are appropriately related to those used to award accreditation status. The criteria for recognition also require an agency's standards for preaccreditation to permit an institution or program to hold preaccreditation no more than five years.

The following is a list of accrediting agencies recognized for their preaccreditation categories and the categories that are recognized:

Regional Institutional Accrediting Agencies

MIDDLE STATES COMMISSION ON HIGHER EDUCATION: Candidate for Accreditation

NEW ENGLAND ASSOCIATION OF SCHOOLS AND COLLEGES: Commission on Institution of Higher Education : Candidate for Accreditation

NORTH CENTRAL ASSOCIATION OF COLLEGES AND SCHOOLS-- The Higher Commission: Candidate for Accreditation

NORTHWEST COMMISSION ON COLLEGES AND UNIVERSITIES: Candidate for Accreditation

SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS-- Commission on Colleges: Candidate for Accreditation

WESTERN ASSOCIATION OF SCHOOLS AND COLLEGES-- Accrediting Commission for Community and Junior Colleges: Candidate for Accreditation Accrediting Commission for Senior Colleges and Universities: Candidate for Accreditation